The Bulls Take the Week, Nigerian Stocks Gain +5.59% WTD

May 22, 2020/InvestmentOne Report

The Nigerian equities market closed up today as NSE-ASI gained 1.80to close at 25,204.75pts. Similarly, the market gained 5.59% WTD.  

In today’s trade, market breadth index was positive with 28 gainers against 16 losers.

MOBIL (+9.97%) was the top gainer while CAVERTON (-10.00%) led the loser’s chart.

UBA (+1.49%) was the most actively traded stock with about 49million units of shares worth about N331million.

Sector Performance

·         NSE Industrial Index: Increased by 5.94on the back of the gains in BUACEMENT (+9.55%) and WAPCO (+2.27%).

·         NSE Oil & Gas Index: Gained 3.11due to positive sentiment in MOBIL (+9.97%), CONOIL (+9.95%) and OANDO (+3.82%).

·         NSE Consumer Goods Index: Rose by 1.51% due to the gains in PZ (+9.57%), CHAMPION (+9.21%), NB (+5.33%)FLOURMILL (+5.00%) and UNILEVER (+3.34%).

·         NSE Banking Index: Gained 0.25%, as a result of the buy-interests in ETI (+8.74%), JAIZBANK (+8.62%), WEMABANK (+3.51%) and UBA (+1.49%)

Performance of key stocks

S/N

Stock

Current Price (N)

1-day change (%)

Week to date change (%)

1

ACCESS

6.70

0.00%

7.20%

2

DANGCEM

150.00

0.00%

4.53%

3

FBNH

5.20

-2.80%

5.05%

4

FIDELITYBK

1.89

1.07%

5.00%

5

GUARANTY

23.75

-1.04%

5.56%

6

MTNN

115.00

3.60%

5.02%

7

UBA

6.80

1.49%

8.80%

8

SEPLAT

476.40

0.00%

0.00%

9

ZENITHBANK

16.95

-0.29%

9.71%

10

OKOMUOIL

64.40

0.00%

16.98%

The equities market closed up due to the positive sentiment in all sectorsWhile we believe the risk-off sentiment on the back of weak oil price as well as the impact of Coronavirus could continue to weigh in on equities market, we opine that this may be one of the best periods to start picking some of the quality names with a medium to long term investment horizon.

Leave a Comment

Your email address will not be published. Required fields are marked *

*